CD laddering is the process of spreading cash across various CD maturity terms and rates. Learn more about CDs and laddering to elevate your savings strategy.
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program.
The $1.7 trillion appropriations bill passed by Congress at the end of last year included some notable provisions affecting workplace retirement plans and Individual Retirement Accounts (IRAs). Here's an overview of the Act's changes to the complicated rules that govern tax-advantaged retirement accounts.
As Americans, we’re simply not saving enough for retirement. As a result of this lack of appropriate saving and planning, policymakers deemed it necessary to step in and take action. As a result, the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act of 2022 became law and, as a result, has implemented changes to the retirement system.
How does this impact you?
If you're asking this question, you probably have a 401(k) or other retirement plan through a former employer. The short answer is yes — most retirement plans allow you to roll your plan funds over into an IRA after you've left your employer's service. However, there is more than one way to do a rollover, and how you do it can be critical.
Maybe, maybe not. Generally speaking, the Internal Revenue Service (IRS) allows you to make your Individual Retirement Account (IRA) contribution for a particular tax year up until April 15 of the following year.
You may contribute to an Individual Retirement Account (IRA) if you're a member of the armed forces. The rules that apply to servicemembers regarding IRA contributions and distributions generally are the same rules that apply to civilians.